COMING WEDNESDAY: Dollars and Sense columnist Arlinda Smith Broady says tax refund time is a great time to consider adopting a savings strategy.

Oil drops, gas rises

The price of crude oil fell nearly $3 to settle below $62 a barrel Monday on a supply glut at a key U.S. delivery point as tensions with Iran loomed.

Light, sweet crude for May delivery fell $2.77 to settle at $61.51 a barrel on the New York Mercantile Exchange.

The national average price for gasoline rose for the 10th straight week, according to a government report released Monday.

The U.S. Energy Information Administration said drivers paid an average of $2.80 a gallon for regular gasoline in the week ended Monday, up from $2.70 the previous week.

Retail gasoline prices are up 11.9 cents from a year ago. Prices have risen 54.2 cents over the past 10 weeks.

NATION

CHARLOTTE, N.C. - Bank of America Corp. said Monday that Frances Aldrich Sevilla-Sacasa will become president of the company's new private wealth management unit after the bank buys U.S. Trust Corp. later this year.

Bank officials said Sevilla-Sacasa, who had been U.S. Trust's president, recently replaced Peter K. Scaturro as the chief executive of U.S. Trust. The private-banking firm serves as the wealth-management specialist for San Francisco-based Charles Schwab Corp.

In November, Bank of America announced plans to buy U.S. Trust for $3.3 billion. The deal received federal approval last month and is expected to close in the third quarter.

Following the acquisition, the company estimates it will manage about $261 billion in assets for the wealthy - more than any other U.S. bank.

LOCAL

St. Joseph's/Candler will honor volunteer tax preparers to low-income families

St. Joseph's/Candler will honor its employees and volunteers today who helped low-income individuals and families file for more than $1 million in cumulative tax returns.

The celebration is scheduled from 5 p.m. to 6:30 p.m. at St. Joseph's Hospital at 11705 Mercy Blvd. The presentation will start at 5:45 p.m. Volunteers participated in the program through St. Joseph's/Candler's Human Resources Department and its outreach program, St. Mary's Community Center in Cuyler-Brownville. Families and individuals who qualified to receive free tax preparation assistance earn less than $39,000 a year.

NEWSMAKER

IAN SCOTT

Has joined The Seimitsu Corporation's Business Web site Development Team.

Background: Scott previously worked at Systems Connect and has won Addy Awards for Design Excellence from the Advertising Federation.

Education: Scott has a bachelor's degree from the University of Sunderland in Sunderland, United Kingdom.